Common use of Retirement Allowance Clause in Contracts

Retirement Allowance. (a) An Employee who resigns or who retires from employment and is immediately eligible for and commences receipt of pension under the NSHEPP, the Provincial or Federal Superannuation Pension Plan or the Canada Pension Plan immediately following their resignation / retirement shall be granted a Retirement Allowance equal to one (1) week’s pay for each year of service to a maximum of twenty-six (26) years. The Retirement Allowance will include a prorated payment for a partial year of service.

Retirement Allowance. (a) An Employee who resigns or who retires from employment and is immediately eligible for and commences receipt of pension under the NSHEPP, the Provincial or Federal Superannuation Pension Plan or the Canada Pension Plan immediately following their resignation / retirement shall be granted a Retirement Allowance equal to one (1) week’s pay for each year of service to a maximum of twenty-six (26) years. The Retirement Allowance will include a prorated payment for a partial year of service.

Retirement Allowance. (a) An Employee who resigns or who retires from employment and is immediately eligible for and commences receipt of pension under the NSHEPPNSHEPP CDHA pension plan, the Provincial or Federal Superannuation Pension Plan or the Canada Pension Plan (CUPE 26.02 (a), NSNU 19.00, Unifor 24.01 (a) immediately following their resignation / retirement shall be granted a Retirement Allowance equal to one (1) week’s pay for each year of service to a maximum of twenty-six (26) years. The Retirement Allowance will include a prorated payment for a partial year of service.six